Client, loan expansion fuel profit growth at digital lender Inter
Brazilian digital lender Banco Inter reported a net profit increase of 5% year-on-year in the fourth quarter thanks to a sharp rise in the number of new accounts and loan growth.
The bank posted a net profit of 22.3mn reais (US$5.86mn), up from 21.3mn in 4Q17. The net profit for the full year rose to 69.8mn from 53.8mn in 2017.
Inter ended Q4 with 1.45mn digital accounts, up from 379,170 a year earlier.
Lending jumped 28.3% last year to 3.33bn reais at the end of 2018.
"We believe that this strong growth is explained by our value added proposition, which provides a free digital account, with a complete platform of products and services and a great experience for the user," Inter said in a statement.
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News in: ICT (Brazil)
Brazil’s Edge UOL, Embratel extend ties with Amazon Web Services
Edge UOL and América Móvil's Embratel announced new investments in cloud and edge computing leveraged by AWS.
Petrobras begins assembling yet another supercomputer
The contract for the Gaia high-capacity processing (HPC) machine was signed for 76mn reais (US$14.55mn) with Dell.
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Fixed and mobile telephony provider Claro S.A. (Claro Brasil) is the Brazilian unit of the Claro brand owned by Latin American telecom giant América Móvil S.A.B. de C.V. The com...
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